BBB Foods (NYSE:TBBB) Announces Earnings Results

BBB Foods (NYSE:TBBB) released its quarterly earnings data on Wednesday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03), Zacks reports. BBB Foods had a negative return on equity of 81.59% and a negative net margin of 3.68%.The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.42 billion.

BBB Foods Trading Up 16.1%

NYSE:TBBB opened at $49.12 on Friday. BBB Foods has a 12-month low of $23.81 and a 12-month high of $49.77. The company has a current ratio of 0.60, a quick ratio of 0.35 and a debt-to-equity ratio of 2.76. The stock’s 50 day simple moving average is $41.38 and its 200-day simple moving average is $38.03. The firm has a market cap of $5.82 billion and a P/E ratio of -30.51.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group upgraded shares of BBB Foods from a “neutral” rating to a “buy” rating and increased their price target for the company from $43.00 to $51.00 in a research note on Tuesday, August 4th. Scotiabank boosted their price objective on shares of BBB Foods from $37.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. HSBC upgraded shares of BBB Foods from a “hold” rating to a “buy” rating and upped their target price for the company from $38.00 to $47.00 in a report on Wednesday, May 27th. Citigroup assumed coverage on shares of BBB Foods in a research note on Friday, July 31st. They set a “buy” rating and a $49.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of BBB Foods in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.12.

Hedge Funds Weigh In On BBB Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of TBBB. Osaic Holdings Inc. purchased a new position in BBB Foods during the 2nd quarter worth $25,000. Larson Financial Group LLC increased its stake in shares of BBB Foods by 547.9% during the third quarter. Larson Financial Group LLC now owns 1,056 shares of the company’s stock worth $28,000 after acquiring an additional 893 shares during the period. Smartleaf Asset Management LLC acquired a new position in shares of BBB Foods during the fourth quarter worth about $39,000. State of Wyoming purchased a new position in BBB Foods during the fourth quarter worth about $139,000. Finally, Bank of Nova Scotia purchased a new position in BBB Foods during the fourth quarter worth about $267,000. 8.42% of the stock is currently owned by hedge funds and other institutional investors.

About BBB Foods

BBB Foods Inc, through its subsidiaries, operates a chain of grocery retail stores in Mexico. It offers household cleaning, personal hyenine, cosmetics and beauty, pharmacy, and general merchandise products, as well as jellies and desserts, foods and drinks, pet supplies, coffee, tea, chocolates, breads, dry and frozen foods, snacks and sweets, and toilet papers and napkins. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.